XRP Drops Under $3 on Whale Sell-Off, Eyes $2.8 Support
XRP dipped below the $3 mark after a weekend rally, as on-chain data shows rising exchange inflows across multiple holder tiers. Historically, spikes in deposits from whales have preceded major peaks and profit-taking phases in 2018, 2021 and 2023. Large holders moving 100K–1M+ XRP onto exchanges suggests mounting short-term selling pressure, with a pullback toward the $2.8 support zone now plausible. Key resistance lies at $4.2–$4.5, where a decisive breakout could trigger a new bullish phase. Elliott Wave analysts emphasize that defending $2.95 is critical for maintaining the bullish structure, while a break could push XRP down to $2.4. Long term, XRP’s uptrend remains intact, but traders should brace for further volatility.
Bearish
Rising exchange inflows from large XRP holders indicate profit-taking and mounting short-term sell pressure, a pattern that has historically led to deeper corrections before new highs. If bulls fail to defend $2.95, XRP could retreat further toward $2.4. While long-term uptrend remains intact, the immediate outlook favors a bearish pullback, mirroring past cycles in 2018 and 2021 when whale-driven sell-offs triggered similar declines.